Farmland values have been rocketing up across the Midwest, for the last year and a half. Farms in Iowa have sold for as much as $25,500 an acre with values increasing 26% in the state over last year and 18% in Illinois, according to data from the Federal Reserve Bank of Chicago. On average, prices rose 25% in Nebraska, and 23% in Kansas over the last year, according to data from the Federal Reserve Bank of Kansas City. The high farmland values are making sales competitive, not just between farmers, but also with investors. But sky high prices can make it especially hard for young and beginning farmers to grow their business on land they can call their own.
Source: KCUR News
